Next generation of donors spend weeks or months choosing causes – research

11 September 2013

Young wealthy donors spend weeks or months choosing
organisations to support, according to a new report into the
attitudes of the next generation of philanthropists.

Wealthy donors under 30 are also much more likely than older
donors to monitor closely the social changes achieved by their
donations, according to the report by the Charities Aid Foundation
(CAF), which promotes charitable giving and provides financial
services and social finance to not-for-profit organisations.

The Innovation in Giving report is based on global surveys of
wealthy individuals by the Scorpio Partnership.

Scorpio surveyed people in 98 countries each with an average net
worth of more than £1.5m, including the UK, USA, Australia, Canada,
Singapore and Malaysia. Scorpio’s ongoing research into the giving
motivations and habits of wealthy donors around the world looked at
money attitudes of those under 30 and those over 45.

The report found that younger donors spend longer deciding which
organisations to support, with 58% of wealthy givers under 30
taking weeks or months to decide which organisations to support,
compared to just 27% of over 45s.

They also monitor their giving through more objective measures
rather than personal criteria and want to see social change through
their charitable works, with 40% monitoring social change from
their giving compared to 25% of over 45s.

Only 19% of under 30s say they do not monitor the results of
their giving, compared with 28% of donors over 45.

John Canady, CAF Director of Philanthropy Services, said: “The
new generation of philanthropists want to do more than simply give
to causes they care about. They want to see tangible change and use
their drive and vision to help make a difference in society.

“There is a real trend towards philanthropists using their
entrepreneurial skills to get involved in causes and make sure they
make the maximum impact on solving the world’s problems.

“It’s right that people take the time to consider how they can
make a difference, so they can become deeply involved in a cause
and really help to change the world.”